The budget smartphone manufacturer Xiaomi has turned its attention to the lucrative Indian market after its sales started slowing down in its home market of China.
Xiaomi keeps its costs down by selling its phones solely online rather than from brick-and-mortar stores, but despite this the company failed to reach its global sales target of 80 million phones in 2015.
It hopes that growth in the Indian ecommerce market will help it to plug this gap. Currently 30% of phones sold in India are sold online, but this is expected to rise to 50% in the next 2 years.
Around 50 million Indians currently buy items online. This is expected to rise to 320 million by 2020, according to predictions by Morgan Stanley.Â
